A neighborhood association is a Non Profit corporation which is created to preserve and enhance the values and amenities of the community. The Association is comprised of individuals who own property in Lochshire. It is a legal entity (Articles of Incorporation have been filed with the Secretary of State of Alabama).
If you own a property in Lochshire then yes you are a member. Owning property automatically (and legally) makes you a member of the Association. In order to be a member in good standing, you must see that your annual dues are paid to the association on time.
The Board of Directors is a group of members who volunteer their time to manage the Association on behalf of the members (homeowners). These duties include record keeping, overseeing the upkeep of the amenities and common areas, negotiating contracts with vendors, developing an annual budget, establishing an annual assessment and collecting this assessment from the membership, insurance procurement, and establishing committees to deliver additional services to the neighborhood. The Board conducts business according to an established set of rules called By-Laws. The Association Board administers, enforces and defends the covenants, restrictions and agreements to preserve the architectural and general appearance of the properties within Lochshire. Funding for this purpose is obtained from annual dues paid by the property owners.
The Lochshire Homeowners Association Covenants are an agreement between the homeowner and the Association that each will abide by a specific set of standards. By doing so, the attractiveness and overall quality of life in the neighborhood is maintained; and the values of our properties can be preserved over time. For the average family, the home represents our single biggest investment.
Yes. Failure to do so has potential legal implications. In order to secure a title for a property within Lochshire, the potential homeowner must sign a contract which establishes an agreement between the homeowner and the Association.
Legally, you must pay your annual assessment on time and comply with certain requirements set forth in the Covenants. There are also opportunities to serve the Association as a committee member, as a committee leader, or as a member of the Board of Directors. Please consider serving.